The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-02-05
aDy0WN in ALABAM.n
CHEAT pooM IN THAT STATE.
Tho Fictitious Values lislng Set ON Land
In thc Industrial Regions Of Alabama.
r., Calm md Conservative View
OF tho aNew Soutl,p -rh

Mr.. A. ". Campbell, who has been go
journing in tho South for considerable
portion Of this winter, writes as follows tc
a friend in this city concerning tho Ala.
bama boom, about which 90 much hne
been seen In tho newspapers. His letter
10 dated at Fairview, Concordia Parish,
La, January 2S last, lie aaya:
"As you are aware, sojourned for some
timo with my old friend Mr.. Joe Wood.
ward, at his home at Wheeling, Ala,
twelve miles below birmingham, the go
called Magic City Of the Soulh,' and the
centro Of tho boom that sin progress in
Alabama. He has very pleasant home.
indeed, down at Wheeling, his house
being situated in tho midst OF a pine grove
on On elevation that overlooks his furnaces
and tho houses Of his operatives, and he Is
doing we'll. He probably conducts tho
best managed iron business In Alabama,
There he lives apart from all the excite.
ment and speculation that prevails to such
q wild extont up at Birmingham. He
takes no part aud very little stock in said
boom, but rather looks on 1t 4. craze
that will leavo great many people and
perhaps the town itself worse OF after It
passes aTay. l must confess that | could
not help sharing the came feeling and
opinion. But all the same tho boom goes
on and will probably 90 on for some time
TO come. There are thoso who think 1t
will reach it's acme this coming spring,
when Northern .sojournor5 from Florida
and other points turn their faces home.
ward and atop of to see th. Magic City"
THE MAGIC CITY. -
Birmingham is now city of $4,000
people. It has had marvellous growth
in the last three years. Present prices be.
gan their rapid rise year ago, when It
was known that one or two additional i'm.
portant lines OF railroad would be built to
tho place, notably the Kanaas City, Mem
phis u Bitmineham road, Of which George
q. Nattleton. Esq, tho Eon.in.lsw OF your
Mr.. w. j.. Hearne, is general manager.
1t already has three important
lines /. Of road, all running with
in q fine union depot, viz:
The Louisville & Nashville, which ia the
Pennsylvania railroad OF the South tho
Cincinnati,Southern another great line; !;
and the Georgia Pacific, also an impor,
tsnt road. Thsss lines, and other pro.
jecsed roads, promise to make Birming.
ham not only an important manufacturing
but also acommercial and ddistribu!ingcen.
te.. The Kansas City line will bring down
by the nearest route the agricultural pro.
ducts OF Kansas and Nebraska of which
the Sonth Is such largo consumer.
| Whether Birmingham was tho best site
for great city that could have bsen
chosen ia now only secondary question.
It is badly of for water and has no spec;al
advantages OF any kind. But the railroads
and sufficient number. OF industrial es.
Establishments have adopted it and it has
got the start md will, no doubt, keep It,
Atpresent it is increasing rapidly in popu.
lasion and in horsea, many OF them OF IN
excellent c!ass, and also in stores, shops
and manufacturing concerns OF greater or
less importance. 1t is three miles distant
from the nearest orc rainss in Red Dlou..
tain and nix miles from the principal coal
mines on the other side OF the valley. II
has no advnntages for furnace location,
on account OF the limited water supply
and poor dumping ground for Stag. In.
deed it is an expensive place ss compared
with that Of the WoodSard's, down ut
Wheeling. They havo from fifty cents to
one dollar per ton advantage in these and
other respects.
LAND SPECULATION.
You have read Of the prices to which
real estate has been run up at Birming-
ham. l.suppoas the half lisa not been
told you. Enough land hss been laid of
in and around Birmingham for a second
London. l don't know how many land
compsnics have been organized. One is
organized every day OR two. The whole
country round about lie owned by q ssrics
OF land companiea. They have nsocked
their holdings at fabulous figures and l
suppose have caught good many
gudgeon5 in their tolls. l was told Of one
man who had Only paid in 500 in actual
cash to the poo! known as the East Birr.
iu2hsm Land Company, for which he had
received 10000 worth Of stock, como OF
which he had marketed at one dollar five.
All that the company owns is lot OF land
around Birmingham on which there is no
mineral or plant OF any kind. The Eusley
Company 10 another huge affair Of the
came Kind, only more 30. They have be.
tween four and five thousand acres OF wild
land (no mineral or p!art) out six miles
from birmingham, which they have
stocked at ten millions of dollars, and tho
stock is quoted at 60 and 70 cents OF the
dollar, =, -
You have ssen in the papers how the
| atNNk ..
Pany suddenly collapsed like bursted
balloon, dropping from one dollar and sew.
enteen cents to forsy-tour cents in tho
course Of two or three days. That com.
pany has, l judge, good deal moro merit
than somo Of tho land company enter.
prises, for it OWES the Pratt mines, the
most valuable coal property in the South.
F5Ss t4 WILL NOT MAKE STEEL. JfE
There is no doubt about the value Of orc
and cosl in Central Alabama. particularly
the Birmingham region. Iron can be
made cheaper in Alabama than in sny
other State in the Union. It ia not, how
ever, Bessemer iron, and will not make
steel. 1t makes good bar iron and excel.
lent water pipe, stoves and other hollow
n"c' ~ lao Ltb Culel lQhTEetH IN fSE. Louis,
Louisville, Cincinnati and Chicago, and
occasionally, on low frsights, at New YORK
and Boston. All the furnaces ars sold
ahead Of their production and could easily.
have, engaged their entire output for the
whole year. There are nine furnaces in
the birmingham district (the Jones Val.
loy) and ecveral more building and pro.
Jected. Their output is from 75 to 100
tons per day each. Beside these there
arc as many more in other parts Of the
State, counting the charcoal furnaces.
These furnaces and their manufacturing
accessories and allied industries is tho ba.
sis for tho boom in Alabama. The coun.
try itself, agriculturally, is far enough
from q boom. Around Birmingham thu
country Is very poor indeed-worns out
cotton land-"poor by nature and exhaus.
ted by cultiyatfon"-not at all equal as Of
present cultivated to supplying the town OF
Birmingham with the necessities Of lie.
All that there Is is the mineral, but this
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